When it comes to purchasing real estate in the Cayman Islands, it’s always the right time to buy. Few places in the world offer such a wide variety of solid investment opportunities. Whether you are looking for a new home, a vacation abode, or simply want to put your money to good use, the Cayman Islands offers the best real estate options in the Caribbean.
However, potential buyers need to be aware the present property boom is pushing up the prices. Savvy buyers who get in quick could see the value of their investment rise at a record rate.
The Cayman Islands continues to be one of the hottest vacation destinations in the Caribbean and there is a great deal of scope for breaking into the vacation rental market or increasing existing property portfolios.
Despite the islands’ popularity, the supply continues to beat the demand. There is still an abundance of real estate available to buy in the Cayman Islands. Furthermore, the situation only seems likely to improve. New construction sites are getting underway all over the islands.
The Cayman Islands real estate market is a cherry that’s ripe for the picking. Bearing in mind the potential for a great return, it’s possible to bag some very sweet deals.
- Reasons to Buy Real Estate In the Cayman Islands
Even if you forget the obvious allure of all those gorgeous white beaches and the clear blue sea, there are still plenty of reasons to consider investing in Cayman Islands real estate.
For one thing, the lack of property taxes makes owning land in the Cayman Islands a hassle-free investment. The Government also makes the process of buying and selling Cayman Islands property unusually easy. Buying real estate in Bermuda or any of the other Caribbean Islands is not nearly so simple.
The Cayman Islands has one of the simplest and most efficient real estate transfer processes in the world. The lack of red tape may not be the main reason so many people decide to buy Cayman Islands real estate, but it certainly helps. Nobody likes a lot of unnecessary red tape.
All three Cayman Islands also boast an unusually low crime rate. That’s another one of the reasons property on the islands continues to be in such high demand. The excellent schools and first-rate healthcare service also add to the appeal. Who wouldn’t want to live on an island paradise that boasts all the mod cons?
- Location, Location, Location. . .
Location is one of the most important factors to look at before entering into any real estate deal. However, unlike many alternatives, the Cayman Islands property market is equally good wherever you choose to buy. There are no bad options, though some people may find certain areas more appealing than others.
- West Bay
Real estate in the West Bay Area of Grand Cayman often proves to be very appealing to families relocating to the Cayman Islands. The friendly locals and a strong sense of community makes West Bay a perfect location for families to set-up home.
For a combination of sun, sea, sand, and excellent local amenities, West Bay is a very good place to be. It’s also worth noting the fact that property prices in West Bay tend to cheaper than in the more touristy areas. So if you are looking of the best deal on luxury apartment or condo, West Bay is the place to go.
- 7 Mile Beach
Seven Mile Beach is the #1 Cayman Islands tourist hot-spot. From boat rentals to gourmet restaurants and designer boutiques and shops, it’s got the lot. Not to forget all that sun, sea, and sand. Whether walking the shore or reclining on a lounger, it’s a great place to soak up some rays.
In 2015, US News & World Report published its list of best beaches. Based largely on the opinions of beach-goers, 7 Mile Beach attained first place. The real estate market in 7 Mile Beach may be a little more costly than other areas of the island, but owning a property on the “best beach in the world” has tremendous appeal. It’s also an excellent investment. Especially right now when real estate values are still on the rise.
- Rum Point
Rum Point lies a good way to the east of West Bay and 7 Mile Beach. For people who want to enjoy the natural beauty of Grand Cayman without the throng of tourists, Rum Point is a good place to go. The on-beach hammocks are great for anyone who wants to stretch out in the sun and there are plenty of tables where people can enjoy a picnic lunch.
As with West Bay, many Rum Point visitors become so enthralled by the area they become keen to call it home. The real estate market in the Cayman Islands being as good as it is, there are plenty of opportunities available for people who want to make the dream a reality.
- In Summary
The Cayman Islands real estate market is incredibly healthy. There is no lack of opportunities for those who are keen to buy. However, not everyone is motivated by a desire to live a life in the sun. Those who are interested in Cayman Island Real Estate as an investment will also find now is the right time to buy. The popularity of the islands shows no signs of waning and the demand for Cayman Islands property is only going to rise.